Certain Federal Acquisition Regulation Part 16 Contract Pricing Requirements - FAR Sections Affected: 52.216-2, 52.216-3, 52.216-4, 52.216-5, 52.216-6, 52.216-16, and 52.216-17
ICR 202202-9000-004 · OMB 9000-0067 · Historical Active
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 9000-0067 can be found here:
Certain Federal Acquisition Regulation Part 16 Contract Pricing Requirements - FAR Sections Affected: 52.216-2, 52.216-3, 52.216-4, 52.216-5, 52.216-6, 52.216-16, and 52.216-17
Revision of a currently approved collection
No
Regular
Approved without change
04/11/2022
02/26/2022
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
04/30/2025
36 Months From Approved
04/30/2022
61,580
0
880
114,743
0
1,320
6,540,351
0
62,120
This clearance covers the information that contractors must submit to comply with the following FAR part 16 requirements:
â FAR 52.216-2, Economic Price Adjustment-Standard Supplies; FAR 52.216-3, Economic Price Adjustment-Semistandard Supplies; and FAR 52.216-4, Economic Price Adjustment-Labor and Material. These clauses require contractors on contracts that provide for economic price adjustments to promptly notify the contracting officer of any increases or decreases to established prices or labor rates (including fringe) because of certain contingencies, such as increases or decreases to established catalog or market prices or changes to cost indexes for labor or materials.
â FAR 52.216-5, Price Redetermination-Prospective. Paragraph (c) of this clause requires a contractor on a fixed-price contract with prospective price redetermination to submit to the Government (within an agreed upon timeframe) a statement of costs incurred for the most recent period of performance, the proposed prices for the upcoming contract period, and any supporting or relevant documentation. Per paragraph (h) of the clause, during periods where firm prices have not been established, the contractor must also submit quarterly statements that includes a breakdown of total contract prices, costs, and profit incurred and all invoices accepted for delivered items or services for which final prices have not been established.
â FAR 52.216-6, Price Redetermination-Retroactive. Paragraph (c) of this clause requires a contractor on a fixed-ceiling-price contract with retroactive price redetermination to submit to the Government (within an agreed upon timeframe after completion of the contract) the proposed prices, all costs incurred in performing the contract, and any supporting or relevant documentation. Per paragraph (g) of the clause, until final price redetermination has been completed, the contractor must also submit a quarterly statement that includes a breakdown of total contract prices, costs, and interim profit incurred and all invoices accepted for delivered items.
â FAR 52.216-16, Incentive Price RevisionâFirm Target; and FAR 52.216-17, Incentive Price RevisionâSuccessive Targets. These clauses require contractors on fixed price incentive (firm or successive target) contracts to submit to the Government on a quarterly basis a statement regarding total contract prices, costs, portions of interim profit, and amounts of invoices or vouchers for completed work that is cumulative from the beginning of the contract (see 52.216-16(g) and 52.216-17(i)). Upon final delivery of supplies or completion of services for covered line items, the contractor is required to submit a detailed statement of all costs incurred up to the end of that month in performing all work under the items; an estimate of costs of further performance, if any, that may be necessary to complete performance of all work under the items; a list of all residual inventory and an estimate of its value; and any other relevant data that the Contracting Officer may reasonably require (see 52.216-16(c) and 52.216-17(e)). Paragraph (c) of 52.216-17 also requires submission of data for establishing the firm fixed price or a final profit adjustment formula.
â The clause at FAR 52.216-10 previously covered under OMB Control Number 9000-0067 is removed from this supporting statement because it does not include an information collection requirement. As a result, the estimated number of incentive contracts impacted no longer includes cost-type incentive contracts.
â The estimated number of respondents and responses per year is based on the average of FPDS data for the three most recent fiscal years (2018 through 2020). The parameters for data pulled from FPDS for each clause is consistent with the prescription for each clause, resulting in changes to the number of respondents and average contracts per respondent for the individual burden estimates.
â The estimated number of responses for the clauses at FAR 52.216-2, 52.216-3, and 52.216-4 are reduced from 758,432 total responses to 44,370 total responses. The prior estimate under OMB Control No. 9000-0068 cited FPDS data for FY 2018; however, it appears that the report included delivery orders. For this revision, delivery orders are excluded from the report, since it is assumed that economic price adjustments would occur at the contract line-item level.
â The clauses at FAR 52.216-5, 52.216-6, 52.216-16, and 52.216-17 all require similar data submissions and quarterly statements until the work is completed or there is a final price redetermination. However, the previous estimates included different hours per response. Given the similarity in the reporting requirements, it is assumed that the number of responses per contract and the amount of time per response should be the same. As such, the basis for the estimates for each clause has been revised as follows:
o The burden for the data submission requirement and the quarterly statement for each clause are estimated separately.
o The estimated hours per response for the data submission requirement is 8 hours for the contractor and 2 hours for the Government. This is modelled after the previous estimates for FAR 52.216-5 and 52.216-6 (9000-0071) and accounts for the significant amount of data required in the submission.
o The estimated hours per response for the quarterly statement is 1.5 hours for the contractor and 1 hour for the Government. This is modelled after the previous estimates for FAR 52.216-16 and 52.216-17 (9000-0067) and accounts for the fact that the data in this statement is much easier to compile.
â The estimated cost per hour is based on use of the current (calendar year 2021) OPM GS wage rate the rest of the United States for a GS-12/Step 5 employee. The prior estimates for the clauses at FAR 52.216-5 and 52.216-6 used a GS-9/Step 5 wage rate. The estimates for these clauses now use the GS-12/Step 5 wage rate, since the employees performing these functions are likely in similar positions to those performing the functions for the other covered clauses.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
9000-0067 Supporting Statement 2022.02.16.docx
Economic Price Adjustment-Standard Supplies; Economic Price Adjustment-Semistandard Supplies; Economic Price Adjustment-Labor and Material